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Analysts believe the measures will not only start a new round of innovation but also spur fixed asset investment, and in the bigger picture contribute to stabilizing economic growth.

For his part, Kerry said the United States would cooperate closely with China to make the APEC Economic Leaders' Meeting a success.

After the talks, Xi and Higgins witnessed the signing of some deals between the two sides.

Established in 1989, APEC has played a significant role in driving global and regional economic growth. Its 21 members contributed approximately 57 percent of the world's GDP and 46 percent of world trade last year.

FAO Director-General Jose Graziano da Silva thanked the Chinese government for its additional contribution to South-South cooperation, which is aimed mainly at improving world food security.